RBI allows trade transactions settlement in INR with crisis-hit Sri Lanka – The Reserve Bank of India (RBI) has given its permission to trade settlement in INR with Sri Lanka outside the ACU mechanism due to difficulties faced by exporters in receiving payments due to economic and political crises in the South Asian island country.
- State Bank of India (SBI) credited a $1 billion term loan for financing the purchase of essential goods by Sri Lanka from India in March 2022.
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